EUR/AUD: Drop Extends

Technical Reports

Trading is on the downside, as the cross breaches support 1.5857 after falling to 1.5848. Pivot points are at: (S1) 1.5852; (P) 1.5907; (R1) 1.5945.

Trading above 1.5904 will indicate support from 1.5857 and trading will become neutral. Overcoming of 1.5857 will point out trend reversal. Deeper fall in the pair is possible to key support 1.5621.

The medium term growth from 1.3624 continues for key resistance level 1.6587. Upside should be bounded by key resistance 1.6587. Overcoming of 1.5621 should confirm a medium term topping and bring deeper drop back to 1.5153 and possibly below.